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Many homeowners are now renovating rather than moving

In financially uncertain times, more people are deciding to renovate their homes rather than purchasing a new property.

There is financial uncertainty in Britain due to Brexit and a possible change of government after the general election on December 12th. This has made many consumers wary about making major purchases until the political climate has settled down.

According to the government’s land registry, the average house price fell by 0.2% in September 2019. Homeware retailer Dunhelm’s shares increased by 20% on Thursday, December 5 after the company announced a significant rise in its profits. These statistics suggest that more and more homeowners are staying in their homes rather than buying new ones. Instead, they are improving their property by adding new household appliances, furniture and other items.

Many homes have installed wood flooring in the Wirral area to improve their property. As well as looking stylish, wood flooring can add as much as 10% to the value of a home. People often invest in wood flooring when they expect to sell their homes within a year or two. In the meantime, they enjoy the look and feel of natural solid wood flooring. If homeowners decide to stay in their home, they can expect wood floors to last for many decades.

If wood flooring is beyond the household budget, cheaper alternatives such as laminate and engineered wood flooring provide the look of wood without the high price. These may not add as much value to the home as solid wood flooring, but they can make a home attractive to potential buyers.

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